Hut 8

We are incredibly excited to announce a $150 million strategic investment from Coatue to partner in building a next generation AI infrastructure platform. This investment will accelerate growth in our data center portfolio and provides access to Coatue's extensive network of companies and relationships across energy, data centers, and AI. “We are committed to supporting innovators advancing AI and believe that compute capacity is crucial to unlocking significant growth across the ecosystem. We believe that Hut 8 is well-positioned to accelerate new compute capacity and can capitalize on the opportunity it will bring.” - Philippe Laffont, Founder & Portfolio Manager of Coatue “We are thrilled to be partnering with Coatue, given the firm’s deep expertise and long track record of investments in the AI ecosystem. We believe this partnership will allow us to unlock significant opportunities and connectivity to the broader space as we enter this next phase of growth." - Asher Genoot, CEO of Hut 8 Read the full release here: https://ow.ly/jxX050SnWxP. A presentation with additional information is available on our website here: https://ow.ly/c2fZ50So6Iq

Discover our stunning visualization of Hut 8 HPC's AI-ready data center in GTA, Ontario! This cutting-edge facility is expected to be one of the first data centers in Canada to offer ultra-high densities of over 125kW+/ rack. 👉 Explore it here: [https://lnkd.in/ehZFjKkr] #Hut8HPC #DataCenter #AI #Innovation

Today we announced a fleet upgrade that is expected to increase our total self-mining hashrate to ~9.3 EH/s and improve our fleet efficiency to 19.9 J/TH. Alongside our previously announced purchase option for ~15 EH/s of hosted U3S21EXPH ASIC miners at our Vega site, this upgrade creates a path to ~24 EH/s of self-mining hashrate with an average fleet efficiency of 15.7 J/TH as early as Q2 2025. Read the full release here: https://ow.ly/Fiiv50U19ug

We will be hosting our Q3 2024 Earnings Conference Call on Wednesday, November 13 at 8:30 AM ET. The webcast can be viewed here: https://lnkd.in/epVDRPx7 Analysts can register here: https://ow.ly/cF1x50TS47J Read the full release here: https://ow.ly/kePR50TS1QQ

Our annual on-campus recruiting program is in the books! We had a great time meeting students across the country to talk about working at the forefront of energy and digital infrastructure. Thank you to Massachusetts Institute of Technology, University of Chicago, Columbia University, and The University of Texas at Austin for hosting us!    We are actively hiring for roles in AI data center development, corporate strategy, finance, operations, EPC, HR, legal, and software. Join us as we build the future of energy infrastructure!     Check out our current openings here: https://lnkd.in/gpJqUWAU

Our CSO Mike Ho spoke at the infra/STRUCTURE Summit last month, hosted by Structure Research, about Bitcoin miners making the pivot to data center colocation and AI. Power sourcing is often a secondary consideration in digital infrastructure projects, but Hut 8 has secured access to hundreds of MWs of capacity through an energy-first approach: 762 MW of energy capacity under management with over 1 GW of pipeline assets under exclusivity as of June 2024. Learn more in the clip below.

Bitmain’s Newest Liquid Cooled-Chip Bitcoin Miner With Hut 8’s Asher Genoot “860 TH/s at 13 J/TH, efficiency in a traditional data center rack. It’s direct liquid to chip, which is really important because a lot of the AI revolution is direct liquid cooling.” Asher Genoot, CEO of Hut 8, joins The Mining Pod to discuss their new partnership with Bitmain on the U3S21EXPH. Watch: https://lnkd.in/gj6Zu_ir

Today we released our operations update for September 2024.   Read the full release here: https://ow.ly/mnbf50TCzaF

Today we announced an early payoff of our outstanding loan with Anchorage Digital. Our entire ~$38M loan balance has converted to common shares at a share price of $16.395. “Hut 8 stands out for its conviction to innovation — it’s a key reason that we originally backed them with a loan, and it’s the same reason we’ve now converted that debt to equity. In an evolving market, Hut 8 has proven that they can adapt to meet the moment and come out stronger — for the benefit of the company and the digital asset ecosystem at large. We value that kind of resilience on our balance sheet, and our new ownership stake makes that clear.” - Nathan McCauley, CEO of Anchorage “With a strengthened balance sheet and decreased leverage, we believe we are even better positioned to advance discussions with prospective counterparties and execute on the development of next-generation mining and AI data centers.” - Asher Genoot, CEO of Hut 8 Read the full release here: https://ow.ly/UIo850TzCvL